Despite huge advances in modern medicine, schizophrenia remains somewhat an elusive illness, not only due to the relatively poor understanding of its aetiology and pathophysiology, but also because of the lack of availability of effective and comprehensive treatments. Sadly it continues to be described as a chronic, frequently disabling mental disorder of young adults that affects about one per cent of the world’s population. Indeed, it continues to place a huge socioeconomic burden throughout the world. Yet, the progress on many fronts towards understanding its nature is being made and the possibility of effective comprehensive treatments remain a realistic goal, though it is hard to predict whether this is likely to happen in the next 20 years. The current knowledge of schizophrenia is far from complete, but what can be said in the light of present knowledge is that it is a heterogeneous disorder, which is characterized by positive and negative symptoms with persisting cognitive deficits. The illness usually has its onset in youth with varying heritability and shows alteration in brain structure and function.